Atb Cap Markets Has Negative Outlook of CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Investment analysts at Atb Cap Markets lowered their FY2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a research report issued to clients and investors on Sunday, January 19th. Atb Cap Markets analyst C. Murray now anticipates that the transportation company will post earnings per share of $5.00 for the year, down from their previous estimate of $5.29. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.18 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.35 EPS, Q1 2025 earnings at $1.29 EPS, Q2 2025 earnings at $1.46 EPS, Q4 2025 earnings at $1.56 EPS, FY2025 earnings at $5.74 EPS, Q1 2026 earnings at $1.48 EPS, Q3 2026 earnings at $1.59 EPS, Q4 2026 earnings at $1.70 EPS and FY2026 earnings at $6.41 EPS.

Several other brokerages also recently weighed in on CNI. Stifel Nicolaus upgraded Canadian National Railway from a “hold” rating to a “buy” rating and lowered their target price for the company from $132.00 to $120.00 in a research note on Thursday, January 16th. Wells Fargo & Company dropped their price objective on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Jefferies Financial Group raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Friday, January 10th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Finally, Bank of America cut their price target on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.02.

Canadian National Railway Price Performance

CNI opened at $101.54 on Tuesday. Canadian National Railway has a twelve month low of $98.96 and a twelve month high of $134.02. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The firm has a market cap of $63.85 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.29 and a beta of 0.91. The company has a fifty day simple moving average of $105.44 and a 200 day simple moving average of $111.82.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 earnings per share.

Institutional Trading of Canadian National Railway

A number of large investors have recently modified their holdings of the company. Cardinal Capital Management Inc. increased its position in Canadian National Railway by 42.6% in the 4th quarter. Cardinal Capital Management Inc. now owns 678,211 shares of the transportation company’s stock valued at $68,715,000 after acquiring an additional 202,692 shares during the period. Inspire Investing LLC increased its holdings in shares of Canadian National Railway by 8.5% during the fourth quarter. Inspire Investing LLC now owns 25,470 shares of the transportation company’s stock valued at $2,586,000 after purchasing an additional 1,986 shares during the period. Wesbanco Bank Inc. acquired a new position in shares of Canadian National Railway during the fourth quarter valued at $227,000. Rothschild & Co Wealth Management UK Ltd bought a new stake in shares of Canadian National Railway during the fourth quarter valued at about $5,662,000. Finally, Janney Montgomery Scott LLC lifted its holdings in Canadian National Railway by 7.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 138,810 shares of the transportation company’s stock worth $14,091,000 after purchasing an additional 10,039 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.